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SCF Combined Extract Data
ATTITUDINAL
KNOWLRespondent's knowledge of personal finances
Text of this Question or Item
-1 is not at all knowledgeable. 10 is very knowledgeale.
Only available for 2016 and later surveys.
|
Percent |
N |
Value |
Label |
|
0.2 |
3,017,117 |
-1 |
|
|
79.1 |
965,348,694 |
0 |
|
|
0.1 |
1,592,911 |
1 |
|
|
0.3 |
3,346,374 |
2 |
|
|
0.5 |
6,079,940 |
3 |
|
|
0.8 |
9,178,753 |
4 |
|
|
2.8 |
33,584,168 |
5 |
|
|
2.3 |
28,257,488 |
6 |
|
|
3.8 |
46,166,734 |
7 |
|
|
4.1 |
49,650,320 |
8 |
|
|
2.0 |
24,487,442 |
9 |
|
|
4.0 |
49,262,884 |
10 |
|
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/columns: |
1/258-259
|
FINLITNumber of financial literacy questions answered correctly
Text of this Question or Item
Only available for 2016 and later surveys.
|
Percent |
N |
Value |
Label |
|
80.0 |
975,998,505 |
0 |
|
|
3.6 |
44,518,645 |
1 |
|
|
7.3 |
89,665,053 |
2 |
|
|
9.0 |
109,790,623 |
3 |
|
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/303
|
YESFINRISKRespondent willing to take financial risk
|
Percent |
N |
Value |
Label |
|
96.2 |
1,173,774,000 |
0 |
No |
|
3.8 |
46,198,826 |
1 |
Yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/261
|
NOFINRISKRespondent not willing to take financial risk
|
Percent |
N |
Value |
Label |
|
56.4 |
688,514,491 |
0 |
No |
|
43.6 |
531,458,335 |
1 |
Yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/263
|
CKCONNECTNWhy chose main checking account institution: connection through work/school
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
98.3 |
1,199,405,148 |
0 |
no |
|
1.7 |
20,567,678 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/352
|
CKCONVPAYRLWhy chose main checking account institution: other convenience, payroll deduction/direct deposit
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
99.0 |
1,207,523,246 |
0 |
no |
|
1.0 |
12,449,579 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/358
|
CKLOCATIONWhy chose main checking account institution: location of their offices
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
60.5 |
737,748,842 |
0 |
no |
|
39.5 |
482,223,984 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/342
|
CKLONGTIMEWhy chose main checking account institution: always done business there, banked there a long time
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
97.9 |
1,194,018,463 |
0 |
no |
|
2.1 |
25,954,362 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/354
|
CKLOWFEEBALWhy chose main checking account institution: had the lowest fees/minimum balance requirement
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
87.1 |
1,062,247,950 |
0 |
no |
|
12.9 |
157,724,876 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/344
|
CKMANYSVCSWhy chose main checking account institution: able to obtain many services at one place
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
84.6 |
1,032,424,181 |
0 |
no |
|
15.4 |
187,548,645 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/346
|
CKPERSONALWhy chose main checking account institution: personal relationship
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
96.4 |
1,175,700,857 |
0 |
no |
|
3.6 |
44,271,969 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/350
|
CKRECOMFRNDWhy chose main checking account institution: recommended, friend/family has account there
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
97.0 |
1,183,119,366 |
0 |
no |
|
3.0 |
36,853,459 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/348
|
CKSAFETYWhy chose main checking account institution: offered safety and absence of risk
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
97.1 |
1,185,080,460 |
0 |
no |
|
2.9 |
34,892,365 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/356
|
CKOTHCHOOSEWhy chose main checking account institution: other reason
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
93.7 |
1,142,734,655 |
0 |
no |
|
6.3 |
77,238,170 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/360
|
MINBALWhy no checking account: minimum balance is too high
|
Percent |
N |
Value |
Label |
|
99.1 |
1,209,477,309 |
0 |
no |
|
0.9 |
10,495,516 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/326
|
CANTMANGWhy no checking account: can't manage/balance a checking account
|
Percent |
N |
Value |
Label |
|
99.4 |
1,212,149,665 |
0 |
no |
|
0.6 |
7,823,160 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/334
|
CREDITWhy no checking account: credit problems, bankruptcy, does not meet qualifications for an account
|
Percent |
N |
Value |
Label |
|
99.6 |
1,027,365,223 |
0 |
no |
|
0.4 |
3,669,882 |
1 |
yes |
|
|
188,937,720 |
. |
(No Data) |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/336
|
DONTLIKEWhy no checking account: don't like dealing with banks
|
Percent |
N |
Value |
Label |
|
97.6 |
1,190,597,706 |
0 |
no |
|
2.4 |
29,375,120 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/328
|
DONTWANTWhy no checking account: does not want/need a checking account
|
Percent |
N |
Value |
Label |
|
99.4 |
1,024,348,563 |
0 |
no |
|
0.6 |
6,686,542 |
1 |
yes |
|
|
188,937,720 |
. |
(No Data) |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/338
|
DONTWRITWhy no checking account: don�t write enough checks to make it worthwhile
|
Percent |
N |
Value |
Label |
|
96.9 |
1,182,613,947 |
0 |
no |
|
3.1 |
37,358,879 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/324
|
NOMONEYWhy no checking account: don't have (enough) money
|
Percent |
N |
Value |
Label |
|
98.3 |
1,199,197,204 |
0 |
no |
|
1.7 |
20,775,621 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/332
|
SVCCHGWhy no checking account: service changes are too high
|
Percent |
N |
Value |
Label |
|
98.7 |
1,204,264,984 |
0 |
no |
|
1.3 |
15,707,842 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/330
|
OTHERWhy no checking account: other
|
Percent |
N |
Value |
Label |
|
99.4 |
1,212,261,061 |
0 |
no |
|
0.6 |
7,711,765 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/340
|
WHYNOCKGReason household does not have a checking account
Text of this Question or Item
0=Inap
1=don't write enough checks to make it worthwhile
2=minimum balance is too high
3=do not like dealing with banks
4=service charges are too high
5=no bank has convenient hours or location
12=checkbook has been/could be lost/stolen
13=haven't gotten around to it
14=R has alternative source of checking services (money market, savings account,etc).
Does not include individuals who write checks for R
15=R not allowed to have account (e.g., asset test for welfare)
16=Someone else writes checks for R or manages R's finances
20=R does not need/want a checking account (NEC)
21=credit problems, bankruptcy, R does not meet
depositorys qualifications for having an account
22=Concern about overdraft fees
95=don't have(enough) money
-1=can't manage/balance a checking account
-7=other
NOTE: codeframe varies over the survey years, so beware of constructing overly specific comparisons of the distribution of
households over these categories over time.
|
Percent |
N |
Value |
Label |
|
0.1 |
1,479,076 |
-7 |
other |
|
0.5 |
5,887,245 |
-1 |
can't manage/balance a checking account |
|
88.5 |
1,079,750,477 |
0 |
Inap |
|
3.1 |
37,358,879 |
1 |
don't write enough checks to make it worthwhile |
|
0.9 |
10,495,516 |
2 |
minimum balance is too high |
|
2.4 |
29,375,120 |
3 |
do not like dealing with banks |
|
1.3 |
15,707,842 |
4 |
service charges are too high |
|
0.1 |
1,495,581 |
5 |
no bank has convenient hours or location |
|
0.1 |
954,340 |
12 |
checkbook has been/could be lost/stolen |
|
0.1 |
995,341 |
13 |
haven't gotten around to it |
|
0.0 |
472,772 |
14 |
R has alternative source of checking services (money market, savings account,etc). Does not include individuals who write checks for R |
|
0.1 |
640,708 |
15 |
R not allowed to have account (e.g., asset test for welfare) |
|
0.1 |
828,619 |
16 |
Someone else writes checks for R or manages R's finances |
|
0.6 |
7,196,908 |
20 |
R does not need/want a checking account (NEC) |
|
0.3 |
3,777,538 |
21 |
credit problems, bankruptcy, R does not meet depositorys qualifications for having an account |
|
0.1 |
845,328 |
22 |
Concern about overdraft fees |
|
1.7 |
20,775,621 |
95 |
don't have(enough) money |
|
0.2 |
1,935,915 |
96 |
can't manage/balance a checking account |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/columns: |
1/321-322
|
SAVRES1Reason for saving: can't save
Text of this Question or Item
1. can't save
2. education
3. family
4. home
5. purchases
6.retirement
7.liquidity/the future
8. investment,
9. no particular reason
multiple saving reasons may be reported: here choosing only first (most important) reason.
|
Percent |
N |
Value |
Label |
|
95.2 |
1,161,386,294 |
0 |
no |
|
4.8 |
58,586,532 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/232
|
SAVRES2Reason for saving: education
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
91.0 |
1,110,782,701 |
0 |
no |
|
9.0 |
109,190,125 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/234
|
SAVRES3Reason for saving: family
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
95.1 |
1,159,678,956 |
0 |
no |
|
4.9 |
60,293,870 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/236
|
SAVRES4Reason for saving: home
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
95.7 |
1,167,846,052 |
0 |
no |
|
4.3 |
52,126,773 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/238
|
SAVRES5Reason for saving: purchases
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
89.5 |
1,091,811,224 |
0 |
no |
|
10.5 |
128,161,601 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/240
|
SAVRES6Reason for saving: retirement
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
71.0 |
866,754,326 |
0 |
no |
|
29.0 |
353,218,499 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/242
|
SAVRES7Reason for saving: liquidity/the future
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
66.2 |
808,115,519 |
0 |
no |
|
33.8 |
411,857,307 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/244
|
SAVRES8Reason for saving: investment
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
97.3 |
1,186,732,039 |
0 |
no |
|
2.7 |
33,240,787 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/246
|
SAVRES9Reason for saving: no particular reason
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
98.9 |
1,206,675,494 |
0 |
no |
|
1.1 |
13,297,331 |
1 |
yes |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/248
|
SAVEDIndicator of whether the household saved over the past 12 months
Text of this Question or Item
1 = Household saved
0 = Household did not save
Not available for 1989
|
Percent |
N |
Value |
Label |
|
44.2 |
497,582,612 |
0 |
Household did not save |
|
55.8 |
629,370,112 |
1 |
Household saved |
|
|
93,020,101 |
. |
(No Data) |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/2212
|
WSAVEDspent more/same/less than income in past year
Text of this Question or Item
Not available for 1989.
|
Percent |
N |
Value |
Label |
|
15.0 |
169,073,530 |
1 |
spending exceeded income |
|
29.2 |
328,509,082 |
2 |
spending equaled income |
|
55.8 |
629,370,112 |
3 |
spending less than income |
|
|
93,020,101 |
. |
(No Data) |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/2210
|
SPENDMORR would spend more if assets appreciated in value
Text of this Question or Item
Not available for 1989, 1992, and 1995.
|
Percent |
N |
Value |
Label |
|
6.9 |
64,632,738 |
1 |
agree strongly |
|
17.7 |
164,505,345 |
2 |
agree somewhat |
|
15.7 |
146,282,966 |
3 |
neither agree nor disagree |
|
29.7 |
277,061,408 |
4 |
disagree somewhat |
|
30.0 |
279,542,191 |
5 |
disagree strongly |
|
|
287,948,178 |
. |
(No Data) |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/2234
|
SPENDLESSR would spend less if assets depreciated in value
Text of this Question or Item
Not available for 1989, 1992, 1995, 1998, 2001, 2004, and 2007.
|
Percent |
N |
Value |
Label |
|
31.8 |
157,447,108 |
1 |
agree strongly |
|
27.9 |
137,812,369 |
2 |
agree somewhat |
|
15.8 |
78,169,528 |
3 |
neither agree nor disagree |
|
13.7 |
67,934,366 |
4 |
disagree somewhat |
|
10.8 |
53,400,048 |
5 |
disagree strongly |
|
|
725,209,407 |
. |
(No Data) |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/2276
|
EHCHKGpeople w/o checking accounts: ever had an account?
|
Percent |
N |
Value |
Label |
|
88.5 |
1,079,750,477 |
0 |
N/A (has checking account) |
|
6.0 |
72,697,189 |
1 |
yes |
|
5.5 |
67,525,159 |
5 |
no |
|
100.0 |
1,219,972,825 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/319
|
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